• Build your credit

    Up to a $10,000 credit limit. Higher limits allow you to spend more and build your credit history. 1

  • No SSN required

    Apply without a Social Security Number (SSN) or previous credit history. 1

  • Global acceptance

    Accepted globally without foreign transaction fees. 3

Comparison of Features

Velo by EastWest Bank Bank of America Citibank
Apply with no SSN yes no no
Maximum Credit Limit $10,000 $5,000 $2,500
Annual Percentage Rate (APR) 20.99% 26.24% 27.74%
Foreign Transaction Fee No fee 3% 3%
Apply with no SSN
Velo by EastWest Bank yes
Bank of America no
Citibank no
Maximum Credit Limit
Velo by EastWest Bank $10,000
Bank of America $5,000
Citibank $2,500
Annual Percentage Rate (APR)
Velo by EastWest Bank 20.99%
Bank of America 26.24%
Citibank 27.74%
Foreign Transaction Fee
Velo by EastWest Bank No fee
Bank of America 3%
Citibank 3%

East West Bank information accurate as of 02/01/2024. Information from other listed institutions is from the institutions’ websites and is accurate as of 12/04/2023. The data listed above may change, and additional features and terms may also apply to each institution’s secured card product.

Secured Credit Card Benefits

Secured Credit Card Benefits

  • No SSN required
    Build your U.S. credit history even without a Social Security Number (SSN).
  • Up to a $10,000 credit limit
    Higher limits allow you to spend more and build your U.S. credit history.
  • Establish your personal credit history 1
    We report information about the status and payment history of your Secured Credit Card to Experian, one of the three major credit bureaus in the United States. Apply today to start building your credit history!
  • No foreign transaction fees, no annual fees 3
    Enjoy the convenience and value of our Secured Credit Card at home or abroad.
  • Tap and go
    Add your Secured Credit Card to a digital wallet to make purchases in store, online or in app.

Get Started with the Secured Credit Card

  1. Apply

    Apply for the Secured Credit Card in our Mobile App or Online Banking service.2

    If you don’t already have the Mobile App, download here.4

  2. Provide a security deposit

    When you submit your application, you will need to provide a refundable security deposit equal to your chosen credit limit. You can close your credit card account any time and get your security deposit2 back.

  1. Activate your card

    Once you receive your Secured Credit Card, activate it by following the instructions included with your card.

  2. Enroll for online access

    Enroll for online access at here

  3. Manage your card

    After you activate your card, use the Manage card feature in our Mobile App or Online Banking service to access a full suite of card management tools:

    Set up a payment account to make recurring or one time payments to your card.

    Review your balance, available credit, and transactions.

    Download your secure credit card statements.

    Set up alerts to notify you when important events occur on your Secured Credit Card.

  4. Enjoy your card

    Enjoy using your Secured Credit Card and start building your credit history in the U.S.1

 
 
Cardholder Enrollment / Login
DISCLOSURE

We may report information about the status and payment of your Account to credit bureaus and other creditors. East West Bank will report this information using the available personal identifying information you have provided to us or provide to us at a later date. You can learn more about how we report Credit in your Secured Visa® Classic Credit Card Agreement.

Funds equal to your chosen credit limit must be deposited in to your primary checking account and pledged to East West Bank as a security deposit before your application can be processed. If your credit application is denied or withdrawn before approval, the security deposit will be released within three business days. If your credit application is approved, the secured deposit will not be available for your use until the card is closed and the security deposit is released by the Bank. Please refer to the Secured Visa® Classic Credit Card Agreement and Terms and Conditions for additional details.

East West Bank does not charge a fee for you to conduct transactions in currencies other than U.S. dollars, although transactions conducted in a foreign currency are converted to U.S. dollars by Visa®. For more information about how this occurs please refer to your Secured Visa® Classic Credit Card Agreement.

East West Bank does not charge for Mobile Banking. However, your mobile service provider may charge for sending and receiving text messages on your phone. Check with your service provider for details on specific fees and data charges that may apply.